Phishing remains the number one cybersecurity risk for SMB businesses in 2024.
Looking back, Phishing was one of the primary causes of cyber attacks in 2023. (Read More) In 2024, phishing remained the number one cybersecurity risk for SMB businesses. (Note: the root cause is hiding in plain sight – employees)
Phishing emails are deceptive emails designed to trick you into revealing personal/business information, such as passwords, credit card numbers, or social security numbers. These emails often appear from legitimate sources, like coworkers, banks, business partners, or vendors. Phishing emails are only a nuisance until an employee falls for the trick. Now it is a cybersecurity risk.
Here’s why phishing remains the number one cybersecurity risk:
- Simplicity: Phishing attacks are relatively easy to execute and often rely on human error rather than complex technical exploits.
- High Success Rate: Phishing emails can be highly convincing, tricking employees into clicking on malicious links or opening attachments.
- Devastating Consequences: Successful phishing attacks can lead to data breaches, ransomware infections, and financial loss.
Employees often fall for phishing emails due to a combination of factors:
- Lack of Awareness: Many employees may not be fully aware of the tactics used in phishing attacks or the potential consequences.
- Trust in Authority: Phishing emails often mimic legitimate sources, such as a company’s CEO or IT department, leading employees to trust the sender.
- Urgency: Phishing emails frequently create a sense of urgency, urging employees to take immediate action without verifying the authenticity of the request.
- Social Engineering: Phishers may use personal information or flattery to build rapport with employees and make them more susceptible to their tactics.
- Human Error: Even experienced employees can make mistakes, especially when under stress or time pressure.
ADDITIONAL READING >> Why we fall for phishing so easily
To mitigate the risk of phishing attacks, it’s essential to provide employees with ongoing training on recognizing phishing attempts, implementing strong password policies, and using email security solutions.
How to identify a phishing email:
- Check the sender’s address: Look for typos or unusual email addresses.
- Be wary of suspicious links: Hover over links to see their actual destination.
- Avoid clicking on attachments: Unless you’re expecting an attachment from a trusted sender.